The European Bank for Reconstruction and Development (EBRD) has drawn up plans to lend Russia’s United Bakers company US$30m to finance working capital, restructure debt, buy modern biscuit manufacturing equipment, and acquire rival businesses, notably an (unnamed) cereal factory.

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more


A bank memorandum said the aim was to enable United Bakers to move from concentrating on bulk manufacturing to the packaged market, competing with western biscuit manufacturers (and their subsidiaries), especially in serving lower income groups within Russia, who often cannot afford the process charged by these established manufacturers.


Privately-owned United Bakers is one of the largest Russian producers of crackers, biscuits and breakfast cereals; it was created under Stalin in 1928, being privatised in 1992. It currently has five production units: four in central Russia and one in Siberia.


The bank will release the money in two phases and it will be complemented by $5m investment sourced elsewhere by United Bakers.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Food Excellence Awards - The Benefits of Entering

Gain the recognition you deserve! The Just Food Excellence Awards celebrate innovation, leadership, and impact. By entering, you showcase your achievements, elevate your industry profile, and position yourself among top leaders driving food industry advancements. Don’t miss your chance to stand out—submit your entry today!

Nominate Now